Socure examines US$100B first-party fraud problem
First-party fraud is costing financial institutions and merchants in the U.S. more than US$100 billion per year, according to the…
financial crime
Biometric Update regularly publishes articles regarding the term "financial crime." The following set of links is available to assist you with finding biometrics news related to "financial crime" and other relevant terms. More tags may be perused by reviewing our entire Biometrics Topics list.
Tidal wave of financial fraud gaining momentum from AI, deepfakes
Mitek Systems Inc. has released the results of its Identity Intelligence Index 2024, shaking loose many of the familiar specters…
Criticisms as Uganda orders ID verification for digital financial transactions of $260 and above
A recent directive by the Bank of Uganda (BoU) for all digital financial transactions of one million Ugandan shilling ($260)…
Mastercard announces new AI suite with behavioral biometrics to fight fraud
Large financial institutions are coming to terms with the new world of tech-driven fraud and adopting digital identity tools as…
AI is a major threat and financial organizations are not doing enough to fight it
Behavioral biometrics firm Biocatch’s 2024 AI, Fraud, and Financial Crime Survey does not mince words in assessing how generative AI…
Financial fraud is exploding, fueled by cheap and easy generative AI tools
If biometrics and digital identity providers seem hyperbolic about the risk of fraud and the importance of data security, consider…
Generative AI enabling identity fraud at scale: Au10tix report
An eight month-long identity fraud campaign coordinated by organized crime groups has attempted 22,080 fraudulent user onboarding attempts by repeatedly…
FinCEN underlines financial sector collaboration to address digital identity threat
Following the release of its Identity Financial Trend Analysis, representatives from the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN)…
Data breach, identity fraud trends reveal deepfake and generative AI threats
Identity trends in 2023 saw generative AI facilitate the creation of fake IDs. Notable breaches affected millions around the world,…
India’s Aadhaar payment system AePS sees rising financial fraud cases: report
Online fraud through the Aadhaar Enabled Payment System (AePS), a platform that allows merchants to accept payment from customers through…
